FAQs

1. What is the difference between a tokenized stock and a token convertible into equity?

A "tokenized stock" is basically the same thing as a share of equity in a publicly traded company, like stocks traded on the Nasdaq or S&P 500. The only difference being that a tokenized stock comes in the form of a digital token.

A "token convertible into equity" is a digital token that can be converted into a stock by the token-holder taking an action. CWISE is such a token. Each CWISE token is backed by an equity share in ChatWise limited and, if desired, convertible into ChatWise stock. To do that, token-holders need to submit their tokens to the company and provide their KYC details (Know Your Customer).

2. How much equity will ChatWise community own?

A minimum of 20% equity in ChatWise limited has been set aside to be given away for FREE to the community members.

In line with the principles of WEB3, ChatWise limited will be:
•  Community owned - At least 20% will be given away for FREE, and upto 50% of the global shareholding could be held by the community members, subject to a future STO (Security Token Offering) and founders’ equity give away, details to be announced. 
•  Governance – Community will participate in the governance of the platform and vote on important issues; such as, the composition of algorithms of user’s timeline; new features etc.

3. What are the token characteristics?

A CWISE token has no buy or sell tax. A maximum of 50 billion CWISE tokens can be minted, 20% of that will be given away to the ChatWise community members for free. 

ChatWise will never ask for money in exchange for these tokens. 

4. Which blockchain does CWISE token use?

CWISE is a BEP20 token which uses Binance blockchain. CWISE token has been reviewed by Solidproof.io and the audit report can be accessed here

5. Do FREE shares received in exchange of CWISE tokens have different rights to those held by the founders and investors?

No, they will be exactly the same. ChatWise is a Web3 company that is based on the principles of de-centralisation, transparency and equality.

6. Can Token-holders sell their tokens?

Each CWISE token comes with a vesting period of 1 year. The Company plans to list CWISE tokens on a decentralised exchange to allow token holders to be able to exchange in the future. The Company may even initiate a ‘buy-back programme’ of CWISE tokens, details will be announced in time

7. Can I sell my shares? When?

If you choose to convert your tokens into shares, you will be able to sell them to the general public once the company undertakes an Initial Public Offering (IPO). There are no firm plans for that imminently, however, the Company anticipates that in three to four years it will undertake an IPO. A decision will ultimately be taken by the Board at the time depending on business and market conditions.

8. Can foreign nationals be shareholders in a UK based company?

Yes, anyone can be a shareholder in a UK based company.

9. Why do you need my ID or proof of residence to convert tokens into shares?

This is a legal requirement in the UK. A company must maintain a share register including the full address and identity details of all shareholders. Your information will be kept safe and secure.

Alternatively, a token holder can sell their CWISE token on the decentralised exchange see A.6.

10. Will I be required to pay for any shares that I win?

No. ChatWise will never ask any of our tokenholders for money or their bank account details to convert tokens into shares.

11. I live in India, China, Brazil or any other country, Can I own shares in ChatWise?

Yes, anyone can own shares in a UK based company.

12. What price will the company pay to buy shares back before an IPO?

If the company announces a buy-back programme, the Board of the Company will determine the price based on the number of active users, growth rate of users, growth projections and other factors that will aim to reflect the fair market price of the business.

13. Will ChatWise ask me for my bank account details?

Never.

If the company has announced a buy-back programme, as published only on our website: www.chatwise.co.uk, then during that process shareholders may choose to participate and sell their shares back to the company. This process will be defined clearly on our website and winners should follow instructions published at that time.